Bob Dylan guitar set to fetch $300k

Bob Dylan's iconic 1963 Martin D-28 acoustic guitar is expected to sell for $300,000 when it goes to auction

One of Bob Dylan's guitars is expected to sell for $300,000 when it goes up for auction next month.

The legendary singer/songwriter's 1963 Martin D-28 acoustic guitar - which he used during notable concerts in the 1970s - will be sold through Heritage Auctions on November 11 in Dallas, Texas.

The instrument was played In New York City by the legendary performer during George Harrison's Concert for Bangladesh in 1971, and he also used it during his 'Rolling Thunder Revue' tour between October 1975 and May 1976.

It is being sold by Larry Cragg, who bought it from the 'Blowin' In the Wind' singer in 1977 when he was working as the musician's guitar repairman, and has enjoyed a career working alongside the likes of Prince, Carlos Santana and Bruce Springsteen.

Included in the offering is the original receipt, which reveals the guitar cost $500 when it was bought originally.

It's been kept in a humidity- and temperature-controlled environment by Cragg - who runs a San Francisco Bay Area business which rents vintage instruments - and he has made sure it's remained in top condition.

He said: "It has the same bridge pins, everything is just like it was when he had it: same case and everything, just like it was 40 years ago."

Cragg added that the instrument is "past being a guitar now", and suggested it should be placed on display in a museum.

Meanwhile, Mike Gutierrez, consignment director at Heritage, explained it was rare that guitars like this to go up for auction.

He said: "Most of these guitars are owned by the celebrities and they either don't need to sell them or they don't sell them. So they very, very rarely come on the market."